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In this video tutorial, the focus is on limited liability partnerships (LLPs), explaining their benefits compared to normal partnerships and limited companies. The presenter discusses the key differences, particularly in terms of liability and taxation. An LLP acts as a hybrid between a traditional partnership and a limited company, addressing the issue of double liability found in standard partnerships. This includes personal liability for both business debts and partners’ decisions. The video is part of a series on tax and accounting, encouraging viewers to subscribe for updates and support the channel by liking the video.
